Athlete Wealth Podcast

The Financial Advice You Need | MLB Draft #3

Before the draft, we often hear agents and families say things like: I don’t have any money; why should we be talking to financial advisors; I don’t want to put the cart before the horse; or We will just wait and interview financial advisors after the draft. Unfortunately, statements and approaches like these lead to players losing both money and opportunities that are often not recoverable. Mainstream media, some agents, and most financial education in the United States have sent the wr...

Professional Baseball is a Business | MLB Draft #2

What is the difference between amateur and professional baseball? Money. Overnight, with your name being called in the MLB Draft and the signing of a contract, you instantly transform into a professional.  Even though this might be your first decision based on money, you have been a part of the industry of baseball for years.  Everyone around you has been making monetary decisions about you for years. A few examples include: Perfect Game has estimated revenues in excess of $80 million Nam...

The Draft Opportunity | MLB Draft Podcast #1

Welcome to the MLB Draft Podcast, the proven playbook to help you navigate the Draft Process successfully.  Our goal is to inform you, support you, and help you achieve the greatest amount of success which we define as: Fulfilling your potential to become the best MLB player and; Maximizing the financial opportunity that is a byproduct of achieving #1 The challenge: Winning is not guaranteed.  History is littered with "can't miss" players who never made it and volumes of athletes experi...

Finding the Right Advice | Molly Sewald | Athlete Wives #4

Molly Sewald, the wife of Mariner's closer Paul Sewald, has a unique story to share of their experience in the minor leagues and stewarding their wealth. Molly and I discuss a topic that can be difficult or exciting for others to talk about - choosing a financial advisor. Molly first shares important context and background on their personal story, which weaves into what feelings they felt when choosing an advisor. Their biggest hurdle was paying another fee to someone else and to quote Moll...

Persevering Through Adversity | Stevie Rasmussen | AWM Capital Athlete Wives Series #3

Stevie Rasmussen, the wife of Ray's pitcher Drew Rasmussen, has a unique story to share of their experiencing true adversity in the big leagues. Everyone at some capacity knows that there will be hard times for families in the minor leagues. Still, few families are prepared and equipped with the tools to handle the complex circumstances that families will experience. Drew was drafted in the first round after his junior year - only to have this opportunity taken away due to a failed medical...

Pursue Your Passion | Sarah Garver | AWM Capital Athlete Wives Series #2

Sarah Garver, the wife of Ranger's catcher Mitch Garver, is passionate about being a wife, mother, and veterinarian. In this episode, Sarah shares why she pursues her career in conjunction with Mitch being a professional baseball player and the benefits her work provides even though she does not technically "need to work." Given the above, it makes sense why the Garver family phrase is "It's only temporary." Sarah gives a great perspective on why that is their phrase, what it means to them,...

Taking Advantage of Every Opportunity | Jess Skubal | Athlete Wives Series #1

EPISODE DESCRIPTION: Jess Skubal has a unique perspective. She has a deep understanding of what it means to be married to a professional baseball player - her husband, Tarik Skubal, is a pitcher for the Detroit Tigers. She is also familiar with the most significant financial mistakes athlete families make due to her professional background working as a tax CPA for Deloitte, one of the world's top 4 public accounting firms. Jess is passionate about making sure every dollar is maximized, and ...

Brand Building Using NIL With Former MLB Pitcher Anthony Ranaudo | NIL Series #4

There are several questions that constantly come up when we are having conversations with athletes and business owners like: What should a “deal” look like from both sides of the table? How should an athlete think about branding themselves? How are businesses utilizing their newfound ability to participate in NIL? In this episode of AWM Capital’s Name, Image, and Likeness (NIL) series, we are joined by Anthony Ranaudo. Anthony is a College World Series champion, 1st round draft pick, and...

Universities & NIL With LSU’s Taylor Jacobs | NIL Series #3

In the constantly evolving landscape of NIL, understanding university guidelines as well as the resources that are available is paramount for success. From understanding state laws and NCAA rules, to what activities are allowed, or even how to manage taxes, there are several important topics that every student athlete should know.  In this episode of AWM Capital’s NIL Podcast Series, Taylor Jacobs, Compliance Coordinator at LSU, talks with Will McGuffey about how to effectively participate ...

Navigating NIL for College Athletes with Matchpoint Connection’s Jonathan Pixley | NIL Series #2

As a college athlete interested in NIL deals, how can you connect with potential partners? With NIL being such a new concept, there are several ways outside of the traditional models of procuring endorsements that are showing up as options for student athletes. One of these new platforms is MatchPoint Connection, which is a two-way marketplace that helps student athletes and other social media influencers connect for endorsement purposes. Through their web-based app, student athletes can co...

NIL Basics for Amateur Athletes with David Fleshman | NIL Series #1

Since July 2021 when the NCAA opened the floodgates with its interim policy, Name, Image, and Likeness - or “NIL” as it is more commonly referred to - has been a hot topic.  Unfortunately, while NIL is constantly being seen on social media or when watching press conferences where college football coaches are responding to allegations made by other coaches about it’s unfair use in recruiting or the transfer portal, there is not much clarity or information out there for the student athlete or ...

MLB Players: Are You Taking Advantage of This Tax Savings Strategy? 12/31 Deadline | Erik Averill, Travis Chick | MLB Players' Series

You have worked hard for your money, which is why it never feels good when you see how much you lose to taxes. Unfortunately, most players neglect ongoing tax planning, which results in paying more in taxes than they should.  Depending on your tax bracket, you can save paying 40% to 50% in taxes on a portion of your self-employment income (1099 income) or you can maximize the opportunity to grow your money tax free. In this episode of the MLB Players’ Podcast, Erik Averill, CPWA®, CFP® and...

PGA Tour University: Everything You Need to Know | Brendan von Doehren, Aaron Goldberg | PGA Players’ Series #16

This year marks the inaugural PGA Tour University class that will have immediate access to the Korn Ferry Tour and Mackenzie Tour. Like with any new system there have been lots of questions, plenty of conflicting thoughts, and some incorrect information swirling, that may influence players decisions whether to turn pro or come back for one more year of college golf. We decided to go straight to the source.   Senior Director at the PGA Tour and creator of the PGA Tour University, Brendan von...

The 3 Most Common Tax Mistakes Professional Golfers Make | Aaron Goldberg | PGA Players’ Series #15

Professional Golfers have one of the most unique tax situations of all individuals. We tend to see the same mistakes made over and over when we review new clients previous tax returns. It typically comes down to a lack of knowledge and expertise in how to work with athletes. Your team should be doing everything possible to keep as much money under your control now and minimize your tax liability over the long haul as well. In this episode we will discuss the three most common Mistakes that ...

A Pro Athlete's Guide to Private Real Estate Investing | Aaron Goldberg | PGA Players’ Series #14

Moving up to the PGA Tour like a Pro: What your Wealth Management Team Should Do For You | Aaron Goldberg| PGA Players' Seriest #13

The stakes are higher on Tour: the competition, the opportunities, the money. With this comes even more of a need for expert advise and planning. As an elite athlete, you NEED and DESERVE to have a team that is built to serve elite athletes. Unfortunately, the existing landscape of financial institutions is built to serve the general public. In this episode we will explore what a wealth management team should be doing for you. You have a unique situation that requires unique solutions. You ...

Getting Elite Access to Private Investments | Aaron Goldberg | PGA Players' Series #12

None of us are walking down the fairway bragging about the returns we got last year with an index fund, or the interest we are getting in our bond portfolio. Whether we should or not is another topic. But everyone seems to know someone that knows someone who can get them in on a private deal that is sure to have amazing returns with very little downside. Private investing versus public investing is a very different endeavor. Over the next few episodes we will dive deeper into the types of p...

Tax Time Check List | Aaron Goldberg | PGA Players' Series #11

Though tax planning is a year round process, the culmination of tax planning each year is tax filing. Most people are familiar with filing their taxes by April 15th, but what are you doing throughout the year to make sure that you are being as tax-efficient as possible? This week we discuss the different tax documents you will be receiving and what you and your tax team will need to make sure all is accounted for. We go over some of the commonly overlooked items, tax deductions specific to ...

Disability Insurance | Aaron Goldberg | PGA Players' Series #10

The single most important driver of your Net Worth is your physical ability to play golf. If you are hurt or sick and cannot play for an extended period, this has significant impact on your earnings. Not only does it impact your on-course earnings, but it can affect your endorsement deals as well. So why is disability insurance one of the most overlooked parts of players’ financial structures? The Tour has a disability policy for players with certain exempt status. It is meant to help if yo...

WMO Week: Cover your Blindside | Aaron Goldberg | PGA Players' Series #9

Waste Management Open week is unlike any other on tour. It brings with it all sorts of craziness: sometimes good sometimes bad. This is a good reminder that sometimes things go wrong off the golf course and can potentially have a major impact on your finances if not protected correctly. As an athlete you are a public figure and for all the good that brings, it can also be a target on your back. From minor car accidents, someone getting hurt on your property, to dog bites and parties, if som...

5 Things to Do When Turning Pro | Aaron Goldberg | PGA Players' Series #8

Becoming a professional golfer is an exciting time. A ton of hard work, dedication and sacrifice put you in the position to be able to turn pro. Until now, most of what you have had to focus on is ON the golf course. You are now becoming a business, and with that comes OFF the course demands and needs that can take time and focus away from your game. Follow these 5 steps when turning pro to set yourself up for success. The key to maximizing your potential is to eliminate distractions and ta...

Giving Back Like a Pro | Aaron Goldberg | PGA Players' Series #7

As a professional golfer you have been given an opportunity to lead by example. Many athletes use their platform to lead in different ways. Giving back to charities and foundations can be a big part of leading your community. I highly encourage you to get involved, whether financially, with your time, or both. When making donations, raising funds, or starting a foundation make sure that you know the keys to success and how to maximize your impact. Being strategic with how you donate and are...

Should I Invest in the Next Hot IPO? | Aaron Goldberg | PGA Players Series #6

As a professional athlete, you are presented with all sorts of investment opportunities. Is buying into an IPO a good idea? What do you need to know before investing in a company that has just gone public? Are you compensated for the added fluctuation in price with higher average returns? Let’s look behind the curtain and understand what risks we are taking that may not be obvious. We will also discuss opportunities to possibly invest in companies before their IPO to increase potential retu...

What State Do I Live In? | Aaron Goldberg | PGA Players' Series #5

Though you travel all over the world during the season, where you spend time in your off weeks can impact your taxes. There can also be a lot of bad advice when it comes to your permanent residence that you might receive that typically does not work and can end up coming back to bite you later. There is also a lot of bad advice out there when it comes to what matters when proving where your state of residence is, that typically does not work and can end up coming back to bite you later. In ...

Optimizing Your Taxes with an Individual 401(k) | Aaron Goldberg & Zach Miller | PGA Players' Series #4

As a professional golfer, tax optimization is one of the most important areas of your wealth to address. While investments are a crucial part of growing your overall net worth, the savings you could see on tax optimization could completely blow out of the water any of your annual investment returns. In this week’s episode, Aaron is joined by Super Bowl champion, 8-year NFL veteran and AWM colleague Zach Miller to discuss some of the strategies for professional athletes to optimize their tax...

Should You Set Up an LLC as a Pro Golfer? | Aaron Goldberg & Erik Averill | PGA Players' Series #3

One of the first pieces of advice many pro athletes hear, regardless of the sport, is that they should set up an LLC or corporation although the reasons given for doing this can range anywhere on the spectrum of the plausible to absurd. Our job here at the PGA Players’ Podcast is to demystify the amateur advice and instead provide the professional advice you deserve. There are certainly advantages to making this move for the right athlete. Specifically, having an LLC set up can help protect...

The Most Important Off-Season Financial Moves | Aaron Goldberg | PGA Players' Series #2

With the PGA Tour calendar wrapping up this week and players are heading into the off-season, now is a pivotal time to take advantage of potential tax planning opportunities for this year and dive into financial planning for 2021 and beyond.  As you’re setting up your off-season plans with your swing coach, trainer, and on-course team, now is also the time to check in with your wealth management team. You’re making plans to set yourself up for success on the course next season; why not take...

The Unique Financial Needs of Professional Golfers | PGA Players' Series with Aaron Goldberg and Erik Averill

As a professional golfer, your financial situation is complex: you’re in the highest tax bracket, you only receive 1099 income as opposed to W2s, you have a public financial status, and you play and are taxed in multiple countries throughout the year – just to name a few. Your situation is unique, your solution should be, too. That’s the inspiration behind the PGA Players’ Podcast – where each week, former Korn Ferry and PGA Tour golfer turned private wealth advisor, Aaron Goldberg, CFP® wi...

The Difference Between “Personal Value” vs “Market Value” | Travis Chick, Will McGuffey | MLB Draft Podcast #16

“What is your number?” is one of the most frequently asked questions to a player as the MLB draft approaches every summer. MLB teams want to know it, your agent wants to know it, the coaches at the college you are attending or committed to want to know it, but what is it and how do you calculate it? With everyone asking what this number is, how should you and your family calculate this number and who is qualified to help you understand the true value of the opportunity that you are foregoin...

Answering the MLB Draft’s Most Asked Questions | Travis Chick, Will McGuffey | MLB Draft Podcast #15

The MLB Draft is starting to change from a possibility to a reality. What are some of the most common questions that prospects and their families start asking their financial teams at this point in the year as they prepare to make their big draft decision? What are some nuances that most people are missing heading into July? From the realities and importance of a mock draft in March, to discussing spending habits and purchasing your first car, to what the value of the College Education Plan...

Blue Jays' C.J. Ebarb on Preparing for the Draft | Will McGuffey, Travis Chick | MLB Draft Series #14

We continue our MLB Draft Podcast series as we sit down with the Toronto Blue Jays Midwest Crosschecker C.J. Ebarb. In this episode, C.J. pulls back the curtain to give players and their families valuable insight on the scouting process through the eyes of an MLB organization leading up to the MLB Draft, as well as what makes players successful once they are in professional baseball. With so much information about mock drafts and rankings available through the internet and social media, it ...

LSU's Coach Cain on What Makes Players Successful | Travis Chick, Will McGuffey | MLB Draft Series #13

We continue our MLB Draft Podcast with another installment of our College Coaching Series as we sit down with Louisiana State University Recruiting Coordinator Nolan Cain. In this episode, Coach Cain sharesexperiences and stories as both a player and coach at LSU and in professional baseball, as well as other advice gleaned from teammates and players that he has coached.  His journey from winning the College World Series as a player in 2009 to today as the Recruiting Coordinator at his alma...

Texas A&M’s Justin Seely on Navigating the Draft | Travis Chick, Will McGuffey | MLB Draft Series #12

Seeking qualified advice is the best way to remove emotion from the upcoming business decision you will be faced with when deciding to sign with the MLB team that ultimately drafts you. In this episode we sit down with Texas A&M University Recruiting Coordinator Justin Seely who shares experiences and lessons from players and families who have gone through the MLB Draft process over his last 11 years.  Coach Seely has had a front row seat to watch over 60 of his players from Texas A&M get d...

Financial Advice Before The MLB Draft? The Pros and Cons | MLB Draft Series #11

Due to COVID-19, no matter what MLB draftees sign for – the maximum amount they will receive in the first calendar year is $100,000.  So, do you need a financial advisor? After taxes and agent fees there can be as little as $30,000 left which will be used to live on. Nothing really left to invest. Seems like hiring a financial advisor can wait until next year. If you’re only talking about investing, we agree.  However, are any of the following “financial decisions” important to your fami...

Advice From A 1st Round Parent | Erik Averill, Travis Chick | MLB Draft Series #10

On this week’s episode, we’re honored to be joined by Todd Seigler, father of Anthony Seigler – first round draft pick with the New York Yankees. We get to hear from Todd on what the draft process was like from the perspective of family members and in working through these areas together as a family. As a parent going through the draft process, it can feel like everybody is painting a rosy picture about how perfect your son’s game is – it can be hard to sift through all the feedback using d...

Adley Rutschman On Going Amateur To Pro | Erik Averill, Travis Chick | MLB Draft Series #9

On this week’s episode, Erik and Travis talk with Adley Rutschman, catcher for the Baltimore Orioles. Adley was selected by the Orioles as the first overall selection in the 2019 Major League Baseball draft with the highest signing bonus in baseball history. He joins us this week to discuss his time playing in college for Oregon State University, going into the MLB draft last year and making the transition from amateur to pro. Adley covers a wealth of topics in this episode including: How t...

Bobby Stroupe On Utilizing Downtime To Stay On Your Game | Erik Averill, Travis Chick | MLB Draft Series #8

This week, Travis and Erik interview Bobby Stroupe, founder and president of Athlete Performance Enhancement Center (APEC). Bobby and his team started APEC in 2005 and it has grown over the years to become one of the most trusted sources for athletic performance improvement including accolades from and work with Nike. Bobby and APEC have trained some of the best athletes in the world including NFL MVP and Super Bowl champion Patrick Mahomes. There is a lot of uncertainty for athletes in all...

How Is Your Signing Bonus Taxed? (2021 Update) | Erik Averill, Travis Chick | MLB Draft Series #7

Are you familiar with the changes to how an MLB Draft signing bonus is paid out? Historically, teams have split the gross amount into two equal payments over two years, but due to COVID-19 have recently made some important changes that you need to know. As a player, your ultimate goal is not the gross (before tax) MLB Draft signing bonus amount; rather, it is the net (after-tax) amount. In the past, how you structured your payments - whether they were uneven payments or not - was a huge opp...

Eric Chenowith On Do I Need Disability Insurance? | Erik Averill, Travis Chick | MLB Draft Series #6

You probably didn’t think we would be talking about disability insurance, right? So, do you need coverage? The answer varies for every individual. We are joined this week by former NBA player and current owner of Leverage, a disability and life insurance firm. In this episode, we discuss questions like: As a high school draft prospect, is disability insurance really necessary? Is disability insurance even worth it for me? If I am currently enrolled at a university, what should I do? Will...

Tyler Beede On Navigating The Draft And Your Baseball Career | Erik Averill, Travis Chick | MLB Draft Series #5

On this week’s episode of the MLB Draft Podcast by AWM Capital, we’re joined by Tyler Beede – pitcher for the San Francisco Giants. Tyler had the unique opportunity of being a 1st round draft pick two separate times. He turned down the first opportunity to pursue college at Vanderbilt and further hone his skills. He discusses playing at the collegiate level, on TEAM USA, and continuing on again to the MLB draft as a first round pick. Throughout the episode, Tyler walks us through his career...

Selecting The Right Financial Team | Erik Averill, Travis Chick | MLB Draft Series #4

Last time, we discussed how to find a sports agent who has the expertise and experience for your situation that can advocate for you in contract negotiations and representation.  This week, we continue the conversation to help you finish building out a trusted team that can help you navigate the biggest financial decision of your life by finding the right financial team for you. As an athlete, you would take the time to research and find the best medical professional to help you deal with ...

Selecting The Right Sports Agent | Erik Averill, Travis Chick | MLB Draft Series #3

How confident are you that you chose the right agent? In a $10 billion industry, it brings a host of characters that want a piece of your business. It can be difficult to know who are the people that have the expertise and the experience to help you. Too often, the only advice you receive is to do your due diligence. But that assumes you know what questions to ask, which is largely untrue. So what ends up happening is families are trying to do the best they can, but end up asking the wrong...

What's My Number? | Erik Averill, Travis Chick | MLB Draft Series #2

Should you sign a professional contract or head to campus? This is the decision every high school or college player with eligibility will make this upcoming June. This looming decision will have a dramatic impact on the trajectory of your baseball career and life. How prepared and confident are you that you would make the right decision? Many factors should be considered when deciding to sign a professional contract; however, for the majority of players, it’s a question of money. The ques...

The Draft Opportunity | Erik Averill, Travis Chick | MLB Draft Series #1

In this episode, we breakdown the incredible opportunity an amateur player has to become a professional baseball player. We detail what's the probability, the career trajectory, and pathway to navigate the MLB Draft process successfully. It's hard to encapsulate the excitement surrounding the upcoming MLB Draft. Years of hard work, sacrifice, and dedication all point to this one day. Becoming a pro. It's a rare opportunity to realize a childhood dream, but equally as important, it's an opp...

Real Estate with Jon Condo | Zach Miller | NFL Players Series #23

Jon Condo, my former teammate and 15-year NFL veteran, now real estate agent joins to talk real estate. With real estate prices notching up to record price increases, and an unhealthy supply of homes for sale, Jon answers common questions for NFL Players.  As NFL players focused on growing our net worth and creating generational wealth, real estate is a solid part of that equation. We also get a chance to share our own real estate stories and where NFL players can get tripped up. We also t...

Real Estate with Jon Condo | Zach Miller | NFL Players Podcast #23

Jon Condo, my former teammate and 15-year NFL veteran, now real estate agent joins to talk real estate. With real estate prices notching up to record price increases, and an unhealthy supply of homes for sale, Jon answers common questions for NFL Players.  As NFL players focused on growing our net worth and creating generational wealth, real estate is a solid part of that equation. We also get a chance to share our own real estate stories and where NFL players can get tripped up. We also t...

Grant Haley on Private Investing for NFL Players | NFL Players' Series #22

Grant Haley of the New Orleans Saints joins me this week to talk Venture Capital investing from the viewpoint of an active player. Grant was in the latest class of the Next Play Venture Fellowship with me and is also finishing his MBA while competing his ass off in the New Orleans Saints offseason program.  He is doing what so many NFL players miss - including myself when I was playing - in taking advantage of the absurd amount of resources available to active players. Many of these resourc...

Grant Haley on Private Investing for NFL Players | NFL Players' Podcast #22

Grant Haley of the New Orleans Saints joins me this week to talk Venture Capital investing from the viewpoint of an active player. Grant was in the latest class of the Next Play Venture Fellowship with me and is also finishing his MBA while competing his ass off in the New Orleans Saints offseason program.  He is doing what so many NFL players miss - including myself when I was playing - in taking advantage of the absurd amount of resources available to active players. Many of these resourc...

Venture Capital Investing with Akbar Gbajabiamila | NFL Players’ Podcast #21

Athletes are taken advantage of most often when it comes to making private investments. So many of my teammates ended up with bad advice, poor returns, or even losing all of their money in bad private deals.  It pays to know what you’re doing if you’re interested in getting into the private side of finance. That’s why this week, I’m joined by Akbar Gbajabiamila to discuss Venture Capital investing. Akbar is an NFL veteran of the Raiders, Dolphins and Chargers, current host of American Nin...

Venture Capital Investing with Akbar Gbajabiamila | NFL Players’ Series #21

Athletes are taken advantage of most often when it comes to making private investments. So many of my teammates ended up with bad advice, poor returns, or even losing all of their money in bad private deals.  It pays to know what you’re doing if you’re interested in getting into the private side of finance. That’s why this week, I’m joined by Akbar Gbajabiamila to discuss Venture Capital investing. Akbar is an NFL veteran of the Raiders, Dolphins and Chargers, current host of American Nin...